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Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

Some shoppers `reducing spending due to debt`

21/01/2009

Some consumers in the UK are cutting back on their spending as a result of having "huge debts", it has been suggested.

According to a report in the Guardian, a rising number of people - particularly younger ones - are failing to settle their bills.

It said: "There is growing evidence that Christmas was the last hurrah for consumers as December`s credit card bills force them to confront their debts against a backdrop of rising unemployment."

The article went on to suggest that the development could have a "dramatic impact" on high street sales.

Recently, Jim James, north-east regional chairman of insolvency trade group R3, suggested that consumers who are unable to clear their credit card balance each month may have the beginnings of a "debt addiction", the Northern Echo reported.

The expert added that people who find themselves getting into difficulties regarding their personal finances should seek help sooner rather than later.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according